President Signs Fiscal Cliff Legislation
(January 2, 2013) Following Congressional passage on January 1, 2013, the President signed the American Taxpayer Relief Act of 2012 (H.R. 8 ) on January…
read moreCongress Passes Fiscal Cliff Legislation
(January 1, 2013) Following Senate passage the previous night, the House on January 1, 2013, passed the American Taxpayer Relief Act of 2012 (H.R. 8) by…
read moreSenate Passes Fiscal Cliff Legislation
Acting at the last minute to keep the country from going off the so-called fiscal cliff, the Senate on December 31, 2012, passed the American Taxpayer Relief bill (H.R. 8) by a vote of 89 to 8.
read moreHouse Passes Sequester Replacement Bill; Vote on “Plan B” Tax Cuts Pulled
(December 20, 2012) The House was poised to take up a two-part process to avert the fiscal cliff by holding separate votes on spending cuts…
read moreFree Version of New CCH Fiscal Cliff Estimator Now Available: The Early Advantage for Professionals, Self Tax Preparers
Everyone can now see a clearer picture of how they may be impacted by various tax plans being debated in Congress with a free version of the CCH 2013 Fiscal Cliff Estimator.
read moreHouse Passes Tax Rate Extension
On August 1, the House passed the Job Protection and Recession Prevention bill (H.R. 8), extending the current tax rates for one year for all taxpayers, by a vote of 256 to 171.
read moreHouse Passes Fast-Track Tax Reform Legislation
(August 2, 2012) Following House passage on August 1st of the Job Protection and Recession Prevention bill (H.R. 8), extending the current tax rates for…
read moreCongress Passes Federal Transportation Funding Legislation
On June 29, 2012, Congress passed the Moving Ahead for Progress in the 21st Century Act (MAP-21) by a vote of 373 to 52 in the House and 74 to 19 in the Senate. The legislation extends excise taxes funding the federal Highway Trust Fund through September, 2014, in the case of the motor fuel taxes and through September, 2016, in the case of the heavy vehicle use taxes.
read moreIFRS vs. GAAP Reporting: A Challenge for Multinationals
When it comes to complying with complex accounting, financial, statutory and tax reporting requirements under both U.S. GAAP and IFRS, even innocent mistakes can be deadly. One U.S. based global provider of oil field technology and supplies found that out the hard way. The company was forced to restate its financials twice within six months, and each one resulted in a roughly $500 million adjustment in its financial statements, including penalties, fees and other costs.
read more5 Critical Changes in the Federal Taxation of Corporations
Corporate tax, finance and accounting professionals need to keep a sharp eye on shifts in the maze of tax rules and regulations, which can be challenging. The authors of CCH Expert Treatise: Federal Taxation of Corporations and Shareholders, Andrew Eisenberg and Daniel Schneider, track federal taxation trends. They have narrowed the issues down to the top five to watch right now:
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